Quantinno Capital Management LP Trims Stake in Resources Connection, Inc. $RGP

Quantinno Capital Management LP reduced its stake in Resources Connection, Inc. (NASDAQ:RGP) by 84.2% during the first quarter, Holdings Channel.com reports. The firm owned 31,181 shares of the company’s stock after selling 166,674 shares during the quarter. Quantinno Capital Management LP’s holdings in Resources Connection were worth $116,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Pacific Ridge Capital Partners LLC raised its stake in shares of Resources Connection by 4.7% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 52,320 shares of the company’s stock worth $264,000 after buying an additional 2,350 shares during the period. Mackenzie Financial Corp raised its stake in Resources Connection by 20.6% during the 3rd quarter. Mackenzie Financial Corp now owns 21,134 shares of the company’s stock worth $107,000 after acquiring an additional 3,607 shares during the period. Certior Financial Group LLC lifted its holdings in Resources Connection by 30.2% during the fourth quarter. Certior Financial Group LLC now owns 17,289 shares of the company’s stock valued at $87,000 after purchasing an additional 4,008 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Resources Connection by 19.7% during the fourth quarter. Corient Private Wealth LLC now owns 30,231 shares of the company’s stock valued at $152,000 after purchasing an additional 4,969 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Resources Connection by 7.6% in the fourth quarter. Barclays PLC now owns 73,339 shares of the company’s stock worth $370,000 after purchasing an additional 5,161 shares in the last quarter. Institutional investors own 93.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on RGP. Zacks Research upgraded shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. Finally, Wall Street Zen cut Resources Connection from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Resources Connection presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Resources Connection Price Performance

Resources Connection stock opened at $4.26 on Wednesday. The stock has a market cap of $146.71 million, a P/E ratio of -3.55 and a beta of 0.54. Resources Connection, Inc. has a 1 year low of $3.06 and a 1 year high of $5.55. The firm’s 50 day moving average price is $4.33 and its 200-day moving average price is $4.13.

Resources Connection (NASDAQ:RGP) last released its earnings results on Wednesday, July 22nd. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. The firm had revenue of $106.11 million for the quarter, compared to the consensus estimate of $106.76 million. As a group, equities analysts expect that Resources Connection, Inc. will post -0.44 EPS for the current year.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 3rd will be paid a $0.07 dividend. The ex-dividend date is Thursday, September 3rd. This represents a $0.28 annualized dividend and a yield of 6.6%. Resources Connection’s payout ratio is presently -23.33%.

Resources Connection Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.